Question
I know Assets = Liabilities + Stockholders Equity My question is how do I figure out the Assets and Liabilities when I only have the
I know
Assets = Liabilities + Stockholders Equity
My question is how do I figure out the Assets and Liabilities when I only have the Stockholders Equity or figure out Liabilities and Stockholders equity when I only have assets?
Here is the question: ( I feel like I am missing something obvious.)
One item is omitted in each of the following summaries of balance sheet and income statement data (in millions) for Google and Verizon Communications as of December 31, 2009 and 2010.
Google Verizon
December 31, 2009:
Assets $40,497 ( e )
Liabilities ( a ) ( f )
Stockholder's equity ( b ) 84,143
Increase (Decrease) in assets, liabilities, and stockholders equity during 2010:
Assets $17,354 ( g )
Liabilities $7,117 ($9,671)
Stockholder's equity 10,237 ( h )
December 31, 2010:
Assets ( c ) $220,005
Liabilities 11,610 ( i)
Stockholder's equity ( d ) 86,912
Determine the amounts of the missing items (a) through (i).
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